Bookkeeping a new era of self employment

Bookkeeping: A New Era Of Self-Employment Bookkeeping is a process of financial accounting, which involves the recording of financial transactions. Any process which involves keeping or filing of financial transactions falls under the category of bookkeeping. By financial transactions it means recording of purchases, sales, receipts and payments, either by individual or organization. Government Agencies rely on bookkeeping processes because it assists them in retrieving an accurate set of records for a business.

There are two methods of bookkeeping one is single entry bookkeeping system and the other is double entry bookkeeping.

The person behind these recordings is known as a bookkeeper. It is the bookkeepers role to make records of these transactions and is responsible to the organization to whom he/she is working under, also known by the name accounting clerk or accounting technician. It is their duty to ensure transactions and records are in a specific day book or ledger which can then be accessed by other accounting professionals, to prepare income statements and balance sheets.

Accounting can be manual or computerized but the difference lies in time delay, manual accounting is cumbersome and tedious while computerized is efficient and reliable and has an excellent response time. Response time is the time in between recording of financial transactions and adding it in a specific account.

You can even start your own bookkeeping business which requires light accounting and bookkeeping for other businesses. It is a fantastic opportunity to work from home and the hourly rates vary, depending on your experience and qualifications. Many self-employed bookkeepers provide add-on services such as BAS lodgements budgeting, cash low etc.

By increasing your knowledge and experience, you have the potential to attractlarger clients which in turn will provide larger earnings.

Many business owners are amateur in handling their money so this is where the bookkeeper fits in. Also, you can manage many clients at a time to increase earnings.

You don’t require everything before setting up the business but some of the requirements should be specific and legitimate. You should be qualified to provide bookkeeping services, have a good local network of business owners in your area,you should also have a business card along with a website, where you can show references from satisfied clients and testimonials.

If you are a business owner and seeking a good bookkeeper for account handling, there are many available on the internet or around your area, you just need to find the correct one which is a fit for your business. Also, they provide lots of services which they call Brisbane bookkeeper services which involve different levels and experience and you have the option to choose the best bookkeeper for your needs.

For More About Bookkeeping Brisbane Click ATbookkeeping.com.au/ Original Article Source:http://bookkeepingservicesbrisbane.blogspot.in/2014/03/bookkeepingnew-era-of-self-employment.html